Belgian-Luxembourg Chamber of Commerce in Great Britain’s Post

https://lnkd.in/dfixrvxW "Reopening the Brexit withdrawal agreements wholesale would be a huge drain on the government’s time and energy (and unlikely to be embraced by the EU). Far more prudent would be for the government to slow down the pace of dealignment with EU goods and services regulations. If joining the single market or customs union are even distant prospects, it would be sensible to reduce divergence as much as is practical. Such a split has yet to happen on a significant scale, but climate and environmental regulations is one area where the UK is already notably out of step with the EU. Given how significant UK-EU trade remains, with 42% of UK exports going to the EU and 51% of imports coming from it, this would benefit all parties, even if rejoining is not a fait accompli."

Labour is focused on rebuilding #EU relations, the Lib Dems want to rejoin the #singlemarket and the Tories want to press ahead with work so far Here's what the three main parties represent for #internationaltrade

🌍 𝐒𝐰𝐢𝐬𝐬 𝐚𝐧𝐝 𝐄𝐔 𝐚𝐫𝐞 𝐭𝐚𝐥𝐤𝐢𝐧𝐠 𝐭𝐨𝐠𝐞𝐭𝐡𝐞𝐫 In this news, we can see that the Swiss and EU are talking together about: - Electricity - Overland Transport Agreement - Agreement on agricultural products - Immigration - Wage protection - Institutional elements - Free trade agreement So does the Free Trade Agreement include EU MDR and IVDR and there will be no need anymore for a CH-REP or Importer in Switzerland??? Let's follow this discussion 🔗 https://lnkd.in/dtXVdpde #medicaldevices #easymedicaldevice #regulatoryaffairs #switzerland

The Northern Ireland Assembly is set to vote to maintain the Windsor Framework, despite the trade barriers and political instability this post-Brexit trade deal brought to the Province. Under power-sharing rules, controversial motions require cross-community support, meaning that they must gain backing from Members of the Legislative Assembly (MLAs) in both the unionist and Irish nationalist designations at Stormont. For the Framework’s ‘democratic consent mechanism’, though, those safeguards have been set aside for the first time since the 1970s, when Ulster’s government was prorogued by Edward Heath. As a consequence, this vote requires only a simple majority, effectively to ensure that the Irish Sea border remains in force for at least four more years. Irish nationalists and pro-EU liberals (who designate as ‘other’ in the Assembly) will support the motion, which cannot be vetoed by unionists, all of whom intend to vote against. It was extraordinary that the then Conservative government agreed to effectively fiddle Stormont’s voting rules for this issue, which is the most incendiary question the Province has faced in decades. Northern Ireland’s place in the UK is being diluted, and its politicians will have no say over vast swathes of their own laws, including areas like immigration rules that have little to do with trade in goods. Until relatively recently, of course, unionists enjoyed an outright majority at Stormont. Nationalists argued vehemently that majoritarianism was inappropriate for Northern Ireland’s divided society, and that rationale was largely accepted. Now that they can form a winning bloc, alongside so-called progressives in the Alliance Party, the principle of protecting ‘minority rights’ has been jettisoned. ✍️Owen Polley https://lnkd.in/ewKbU9yD

🇬🇧 Today's general elections in the UK are poised to bring about a significant shift, potentially ending 14 years of Conservative governance. Polls indicate a potential Labour majority in Parliament, which could reshape the political landscape. Whoever takes the helm will face the formidable challenge of rejuvenating the economy. I want to focus on one crucial element: the future of UK-EU relations, as envisioned by the three leading parties. Here is a summary of the parties' positions based on information published in the press: 🔴 The Conservative Party focuses on repealing or reforming laws still based on EU regulations to reduce bureaucracy for British businesses. In the following review of the UK-EU Trade and Cooperation Agreement, they promise a firm stance to ensure the EU meets its commitments and does not discriminate against British exporters. 🔵 Labour Party intends to keep the UK out of the EU but aims to restore and deepen cooperation without rejoining the single market, customs union, or allowing free movement of citizens. Their plan includes renegotiating veterinary agreements to reduce food prices and mutual recognition of professional qualifications to boost the UK's service exports. A Trade White Paper is expected within six months. 🟠 Liberal Democrats are pushing to "fix the broken relationship between the UK and Europe," with ambitions to rejoin the single market and the EU itself as a long-term goal. This stands in stark contrast to the other two major parties. Each party's approach to EU relations could significantly impact domestic and international dynamics. Following the elections, I look forward to seeing how these promises will be realised in the light of economic realities. #UKElections #EUrelations #UKExport #TradePolicy #GoingGlobal

Another Brexit consequence in the horizon, hopefully the next UK government will work with the EU to resolve differences in a timely manner for the good of our economy. #ukeconomy #brexit #northernireland #eu #governmentpolicy #jobs #economicgrowth #carbonpricing https://lnkd.in/eiXP3mtJ

🎤 Reclaiming Sovereignty or Courting Isolation? The Complexities of Britain's Brexit Decision: The question of whether Britain was right to pursue Brexit is complex and deeply nuanced, intertwining economic, political, and social dimensions. Proponents argue that Brexit was an exercise in reclaiming sovereignty, allowing the United Kingdom to regain control over its laws, borders, and trade policies. They contend that, free from the regulations and directives of the European Union, Britain could tailor its immigration policies to better suit its own needs, potentially leading to a more managed and selective immigration system. This autonomy extends to trade as well; leaving the EU allows the UK to negotiate its own trade deals with countries worldwide, potentially fostering stronger economic relationships and opening new markets for British goods and services. Moreover, the financial contribution to the EU budget was a point of contention, with Leave advocates suggesting that the funds could be better spent domestically, improving services like the NHS. On the other hand, critics argue that Brexit has led to significant economic challenges, including disruptions in trade, as the UK lost frictionless access to its largest trading partner, the EU. This has been particularly impactful on industries reliant on complex supply chains and just-in-time logistics, where new customs checks and regulatory barriers have introduced delays and costs. The services sector, including financial services—a key part of the British economy—has also faced uncertainties and restrictions, potentially leading to job losses and a reduction in economic growth. The political landscape has been strained, with Brexit deepening regional divisions within the UK, particularly in Scotland and Northern Ireland, where support for remaining in the EU was strong. Northern Ireland's unique position, sharing a border with EU member Ireland, has brought additional complications, particularly regarding the Good Friday Agreement and the delicate peace it maintains. Socially, Brexit has been polarizing, exacerbating cultural and generational divides, and leading to a rise in nationalism and xenophobia in some quarters, as the rhetoric around "taking back control" has sometimes translated into anti-immigrant sentiments. The decision to leave the EU has also redefined Britain's role on the global stage. Some argue that it diminishes the UK's influence, as it can no longer shape EU policies from within or benefit from collective diplomatic and economic clout. Others believe it offers a chance for Britain to reassert itself as a global player, untethered from what they see as the EU's bureaucratic constraints. The long-term effects of Brexit will unfold over years, if not decades, and it remains a contentious issue with passionate arguments on both sides.

Unlocking Global Prosperity: Insights on Free Trade 🌍🔓 #internationaltrade #economicgrowth Fascinating read by Douglas A. Irwin on the complex dynamics of international trade agreements and their impact on global economic welfare. It's a reminder that while the path to free trade can be challenging, the potential benefits for global prosperity and efficiency are significant. #freetrade #globaleconomy 📖 Full read here: https://lnkd.in/dfpdETJ5

Sir Kier Starmer has officially received a majority in the House of Commons, and is expected to be invited by HM The King later today to form a government - what has Labour spoken about in relaition to international trade? Below, a brief overview of the key international trade points raised in Labour's manifesto: 1. No return to the European Union, 2. No return to the single market, customs union or freedom of movement, 3. A commitment to improve the UK's trade and investment relationship with the EU by "tearing down unnecessary barriers to trade" - though, in what form this will take, is yet to be revealed, 4. A commitment to negotiate a veterinary agreement to "prevent unnecessary border checks", 5. A commitment to secure a "mutual recognition agreement" for professional qualifications to help "open markets for UK exporters", 6. A commitment to "seek targeted trade agreements aligned with our industrial strategy and economic strengths...", 7. A promise to "use our diplomatic network to attract foreign direct investment into the UK, expand markets for British exporters, and shape emerging regulatory frameworks", 8. A focus on seeking a free trade agreement with India, as well as a key focus on Gulf states. This is only a snapshot of some of the main points in Labour's manifesto (https://lnkd.in/e5YG2Mph), and there does not specificity over some of the points, but suffice to say, it looks to be an interesting 5 years for UK importers and exporters...

My new essay with Devesh Kapur in Foreign Affairs Magazine: Democrats and Republicans both agree--industrial policy in America is back & here to stay. But this 21st century industrial policy won't succeed unless it is paired with a 21st century immigration policy: https://lnkd.in/ex4yhKZ9